Janney Montgomery Scott LLC Acquires 9,491 Shares of Ambarella, Inc. (NASDAQ:AMBA)

Janney Montgomery Scott LLC increased its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 238.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,474 shares of the semiconductor company's stock after purchasing an additional 9,491 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ambarella were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AMBA. Principal Financial Group Inc. bought a new position in Ambarella during the 4th quarter valued at about $1,159,000. Los Angeles Capital Management LLC purchased a new position in shares of Ambarella during the fourth quarter valued at approximately $558,000. Proficio Capital Partners LLC bought a new position in Ambarella during the fourth quarter valued at approximately $1,032,000. SBI Securities Co. Ltd. purchased a new stake in Ambarella in the fourth quarter worth approximately $53,000. Finally, Charles Schwab Investment Management Inc. grew its position in Ambarella by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 325,001 shares of the semiconductor company's stock worth $23,641,000 after purchasing an additional 4,682 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Christopher B. Paisley sold 1,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total value of $62,580.00. Following the completion of the transaction, the director owned 39,281 shares of the company's stock, valued at approximately $2,458,204.98. This represents a 2.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMBA has been the topic of several research analyst reports. Summit Insights raised Ambarella to a "hold" rating in a report on Thursday, May 29th. Stifel Nicolaus lowered their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities raised their target price on Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Morgan Stanley reduced their price target on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Finally, Needham & Company LLC lowered their price objective on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ambarella currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.55.

Ambarella Trading Up 1.0%

Ambarella stock traded up $0.66 during midday trading on Thursday, hitting $66.84. The stock had a trading volume of 153,313 shares, compared to its average volume of 762,464. Ambarella, Inc. has a 52-week low of $38.86 and a 52-week high of $85.15. The company has a market capitalization of $2.83 billion, a PE ratio of -26.87 and a beta of 2.05. The firm's fifty day moving average is $56.47 and its two-hundred day moving average is $61.74.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.